Olympic Torch Relay Business Impact

In Falmouth, where final police figures reveal that the events of the day doubled the population, a consumer spend of £1.1 million* is being conservatively estimated.  Falmouth Business Improvement District (BID) Manager Richard Wilcox said: 

Richard Wilcox, Falmouth BID Manager

“Everyone is saying that the 19^th May has been Falmouth’s busiest day in a very long time, comparable to days such as Tall Ships in 1998, and for some younger businesses in the town, this will have been the most profitable day they have ever witnessed.  The ongoing set of events created by local organisations and community members provided an impressive longevity meaning people arrived earlier and stayed later.   The free car parking was a definite draw, allowing people to spend that cash on other items and also ensured they stayed in town for a lengthened period.  People were out until after midnight, enjoying the undeniable Torch buzz, and continually adding to the vital takings of the bars, cafes, restaurants, retail outlets and hotels, for which Falmouth is renowned.  Without a doubt Falmouth businesses have certainly felt the ‘glow’ of the Olympic Torch Relay and seen a major strong economic worth.  It’s our job now to ensure we consolidate the success of this for all involved.”

*Based on Visit Cornwall figures showing an average of £44.33 spend for a day visitor.  The Torch Relay spend estimate figure has been lowered to represent the lower estimated spend of the population of Falmouth however this is a conservative figure as the majority of Falmouth residents were also making the most of the day’s events and utilising local business facilities. Police figures have confirmed that the numbers in Falmouth on 19^th May were 40,000 – therefore doubling the normal Falmouth population of 20,000.